LifeMD, Inc. (NASDAQ:LFMD) Given Average Recommendation of “Buy” by Brokerages

LifeMD, Inc. (NASDAQ:LFMD) has received an average rating of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $12.8571.

Several research firms have commented on LFMD. KeyCorp dropped their target price on shares of LifeMD from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen cut shares of LifeMD from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. BTIG Research lifted their price target on shares of LifeMD from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. HC Wainwright lowered their price target on shares of LifeMD from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Lake Street Capital lowered their price target on shares of LifeMD from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th.

LifeMD Price Performance

LifeMD stock opened at $6.82 on Monday. LifeMD has a 52 week low of $3.99 and a 52 week high of $15.84. The company’s 50 day moving average price is $11.86 and its two-hundred day moving average price is $8.52. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 9.21. The stock has a market cap of $323.38 million, a P/E ratio of -32.48 and a beta of 1.72.

Insider Buying and Selling at LifeMD

In related news, insider Stefan Galluppi sold 85,000 shares of LifeMD stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $12.38, for a total value of $1,052,300.00. Following the completion of the transaction, the insider directly owned 80,449 shares in the company, valued at approximately $995,958.62. The trade was a 51.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marc David Benathen sold 75,000 shares of LifeMD stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $13.09, for a total transaction of $981,750.00. Following the completion of the transaction, the chief financial officer owned 389,554 shares of the company’s stock, valued at $5,099,261.86. This represents a 16.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,000 shares of company stock valued at $3,564,550 over the last 90 days. 18.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. CWM LLC grew its position in shares of LifeMD by 17.5% during the 1st quarter. CWM LLC now owns 9,050 shares of the company’s stock valued at $49,000 after purchasing an additional 1,351 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of LifeMD by 148.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,656 shares of the company’s stock valued at $50,000 after purchasing an additional 2,185 shares in the last quarter. Prudential Financial Inc. grew its position in shares of LifeMD by 19.3% during the 4th quarter. Prudential Financial Inc. now owns 13,605 shares of the company’s stock valued at $67,000 after purchasing an additional 2,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of LifeMD by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,647 shares of the company’s stock valued at $270,000 after purchasing an additional 2,235 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of LifeMD by 26.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company’s stock valued at $70,000 after purchasing an additional 2,895 shares in the last quarter. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

About LifeMD

LifeMD, Inc operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for medical care in the United States. The company offers telehealth platform comprising RexMD, a men's telehealth brand that provides access to virtual medical treatment for a variety of men's health needs from licensed physician; ShapiroMD that provides virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and medical devices treating male and female hair loss; NavaMD, a female-oriented tele-dermatology that offers virtual medical treatment from dermatologists and other providers; and prescription oral and compounded topical medications to treat aging and acne; and Cleared which provides personalized treatments for allergy, asthma and immunology, including in-home tests for both environmental and food allergies, prescriptions for allergies and asthma and immunotherapies for treating chronic allergies.